AMZN
Amazon.com, Inc.
AMZN has the edge over REAL overall, supported by lower modeled downside and stronger valuation.
REAL
The RealReal, Inc.
REAL offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
AMZN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Healthy |
AMZN's revenue, profitability and balance sheet are currently healthy, but its cash flow is weak.
REAL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Strong |
REAL's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
AMZN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 22x | $267 | — |
| Forward | 27x | $267 | — |
| Cheap | 34x | $415 | +55% |
| Fair | 60x | $745 | +179% |
| Expensive | 102x | $1,262 | +372% |
Historical ranges are pointers, not guarantees.
AMZN's PE is in its cheap range at 22x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 27x.
REAL PE Valuation
REAL has no meaningful PE right now: it lost money over the past year.
AMZN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AMZN, with profitability improving.
REAL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for REAL, with profitability improving.
AMZN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.87 | -20% |
| Q3 2026 | $12.37 | +75% |
| Q2 2026 | $12.43 | +89% |
| Q1 2026 | $8.36 | +36% |
| Q4 2025 | $7.17 | +30% |
| Q3 2025 | $7.08 | +52% |
| Q2 2025 | $6.56 | +57% |
| Q1 2025 | $6.14 | +72% |
| Q4 2024 | $5.53 | +91% |
AMZN has the edge over REAL on earnings quality, reporting a profit while its opponent remains loss making.
REAL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.27 | — |
| Q3 2026 | -$0.65 | +$0.68 |
| Q2 2026 | -$1.10 | -$0.09 |
| Q1 2026 | -$1.00 | +$0.08 |
| Q4 2025 | -$1.07 | +$0.17 |
| Q3 2025 | -$1.33 | -$0.47 |
| Q2 2025 | -$1.01 | -$0.10 |
| Q1 2025 | -$1.08 | +$0.04 |
| Q4 2024 | -$1.24 | +$0.41 |
REAL is still losing money, but far less than before: $0.65 per share over the past year, against $2.61 at its worst in late 2021.
AMZN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $201.9B | +12% |
| Q2 2026 | $200.6B | +20% |
| Q1 2026 | $181.5B | +17% |
| Q4 2025 | $213.4B | +14% |
| Q3 2025 | $180.2B | +13% |
| Q2 2025 | $167.7B | +13% |
| Q1 2025 | $155.7B | +8.6% |
| Q4 2024 | $187.8B | +10% |
AMZN's revenue has grown year over year every quarter since late 2020: $202B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +4.2 points |
| Q2 2026 | 14% | +2.3 points |
| Q1 2026 | 13% | +1.3 points |
| Q4 2025 | 12% | +0.4 points |
| Q3 2025 | 9.7% | -1.3 points |
| Q2 2025 | 11% | +1.5 points |
| Q1 2025 | 12% | +1.1 points |
| Q4 2024 | 11% | +3.5 points |
AMZN has the edge over REAL on profitability, with a higher operating margin.
REAL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $206.1M | +19% |
| Q2 2026 | $192.6M | +17% |
| Q1 2026 | $189.7M | +19% |
| Q4 2025 | $194.1M | +18% |
| Q3 2025 | $173.6M | +17% |
| Q2 2025 | $165.2M | +14% |
| Q1 2025 | $160M | +11% |
| Q4 2024 | $164M | +14% |
REAL has the edge over AMZN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.7% | +5.1 points |
| Q2 2026 | -1.2% | +4.8 points |
| Q1 2026 | -1.2% | +6.8 points |
| Q4 2025 | 3.2% | +6.4 points |
| Q3 2025 | -4.3% | +5.5 points |
| Q2 2025 | -6% | +7 points |
| Q1 2025 | -8% | +4.5 points |
| Q4 2024 | -3.1% | +12 points |
REAL's operating margin was 0.7% last quarter, up 5.1 points from the same quarter a year ago, near the top of its range since 2019.
AMZN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$34.8B | -8202% |
| Q2 2026 | -$8.8B | -2757% |
| Q1 2026 | -$18.2B | -$10.2B |
| Q4 2025 | $14.9B | -16% |
| Q3 2025 | $430M | -87% |
| Q2 2025 | $332M | -96% |
| Q1 2025 | -$8B | -297% |
| Q4 2024 | $17.8B | -36% |
AMZN's free cash flow was −$46.9B over the past year, against $10.6B the year before.
REAL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $15.3M | -9.3% |
| Q2 2026 | -$2.4M | +$9M |
| Q1 2026 | -$24.1M | +$8.9M |
| Q4 2025 | $45.8M | +100% |
| Q3 2025 | $16.9M | +235% |
| Q2 2025 | -$11.4M | -$1.6M |
| Q1 2025 | -$33M | -$27.4M |
| Q4 2024 | $22.9M | +233% |
REAL has the edge over AMZN on cash generation, producing positive trailing cash flow while its opponent burns cash.
AMZN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +26M shares |
| 1 year | +0.8% | +84M shares |
| 3 years | +3.5% | +371M shares |
| 5 years | +6.1% | +629M shares |
| Available history | +8.2% | +829M shares |
AMZN has the edge over REAL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $3.3B |
REAL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +5.9% | +7.1M shares |
| 1 year | +9.7% | +11.4M shares |
| 3 years | +25% | +25.5M shares |
| 5 years | +40% | +36.3M shares |
| Available history | +48% | +41.6M shares |
REAL has 128M diluted shares, up 9.7% from a year ago.
AMZN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
AMZN's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
REAL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | -1.1x | Net Cash |
REAL has the edge over AMZN on leverage, with a lower net debt burden relative to earnings.
AMZN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 50.0 | Neutral |
AMZN's weekly RSI is 57 (neutral) and its Stochastic is 50 (neutral).
REAL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.0 | Neutral |
| Stochastic | 77.6 | Neutral |
REAL's weekly RSI is 67 (neutral) and its Stochastic is 78 (neutral).
AMZN PE vs Consumer Cyclical Sector
| Metric | AMZN | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 18x | 20% above |
| PE % | 4 | 47 | 43 pts below |
AMZN is trading at 22x earnings, a 20% premium to the Consumer Cyclical sector's median of 18x, though its recent earnings include one-off gains.
REAL PE vs Consumer Cyclical Sector
REAL has no meaningful PE right now: it lost money over the past year.
AMZN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $253.6 | 5.5% above |
| 20 week MA | $254.9 | 4.9% above |
| 50 week MA | $242.5 | 10% above |
| 100 week MA | $229.6 | 17% above |
| 200 week MA | $191.4 | 40% above |
AMZN is in an uptrend: it's above all five of its weekly moving averages, and 40% above its 200-week average.
REAL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.0 | 30% above |
| 20 week MA | $11.0 | 30% above |
| 50 week MA | $11.6 | 23% above |
| 100 week MA | $9.75 | 47% above |
| 200 week MA | $6.17 | 132% above |
REAL is in an uptrend: it's above all five of its weekly moving averages, and 132% above its 200-week average.
AMZN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.5 | $158.6 | +70% |
| 2021 | $158.6 | $171.1 | +7.8% |
| 2022 | $171.1 | $85.3 | -50% |
| 2023 | $85.3 | $151.9 | +78% |
| 2024 | $151.9 | $223.8 | +47% |
| 2025 | $223.8 | $232.5 | +3.9% |
| 2026 YTD | $232.5 | $267.4 | +15% |
AMZN has the edge over REAL on returns for 2026, with the stronger performance.
REAL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.3 | $20.3 | +11% |
| 2021 | $20.3 | $11.7 | -42% |
| 2022 | $11.7 | $1.10 | -91% |
| 2023 | $1.10 | $2.01 | +83% |
| 2024 | $2.01 | $10.9 | +440% |
| 2025 | $10.9 | $16.2 | +49% |
| 2026 YTD | $16.2 | $14.3 | -12% |
REAL's yearly returns have swung widely, from +440% in 2024 to −91% in 2022. It's down 12% so far in 2026.